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Insurance Technology solutions that help insurers drive their digital vision to maneuver disruption

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A Report on Life and Annuity Industry Trends 2022

Download the report to know more about the key trends that will impact the Life & Annuity industry, through a business lens and the technology lens. The insights gained from this will impact various stakeholders at different levels in the Life & annuity industry and will assist in making key strategic or tactical decisions.

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Life and annuity industry trends

Create engaging and disruptive experiences with innovative insurance technology

The insurance industry is undergoing a major transformation. This is due to a convergence of factors, including expectations from new generations of consumers and decision-makers, hyper-connected consumers, competition from new tech insurers, an explosion in data processing and analytics, and evolution in insurance technology. The industry is polarized, with traditional insurers adopting the digital way of working vs. new insurers starting off as born-digital companies.

To maintain a competitive advantage by reinventing yourself as a customer-centric organization powered by digital and data, you need an IT partner with digital DNA...

The insurance industry is undergoing a major transformation. This is due to a convergence of factors, including expectations from new generations of consumers and decision-makers, hyper-connected consumers, competition from new tech insurers, an explosion in data processing and analytics, and evolution in insurance technology. The industry is polarized, with traditional insurers adopting the digital way of working vs. new insurers starting off as born-digital companies.

To maintain a competitive advantage by reinventing yourself as a customer-centric organization powered by digital and data, you need an IT partner with digital DNA and deep insurance expertise.

Leverage our digital expertise, the latest insurance technology, deep domain experience credentialed by 150+ core platform transformations, and large data programs to deliver underwriting efficiency. Mindtree provides businesses transformation solutions by focusing on industry problem statements.

We embrace cutting-edge insurance technology solutions, like automation and machine learning, to help you transform new business submissions, improve underwriting discipline, settle claims more efficiently, and reduce fraud. Ultimately, by leveraging the right insurance technology services, you can serve your customers better and become a digital-first organization.

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Property and Casualty

Transformational partner for P&C Insurers with niche capabilities and experience in Commercial and Specialty Insurance.

Life and Annuities

Enabling life & annuity, accident & health providers to be customer and market ready in the technology driven marketplace.

Capabilities
  • Solutions
  • Platform

Our offerings for the Insurance industry caters to imperatives including - Underwriting expertise through data augmentation, modernize core systems; Agile product design and development; Optimize cost of operations in core process areas; Robust customer experience; Empower intermediaries.

Business Insights – Insurance KPI Framework

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Digital Insurance Framework

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Conversational Engagement

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Insurance Intelligent Process Automation

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Claims Transformation

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Digitizing Small Commercial Insurance

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Accelerating Product Release to Market

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Connected Insurance

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Cloud Migration for Insurance

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Policyholder experience transformation through digital adoption

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Drive agent and insurance broker experience through digital adoption

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Digital Insurance Underwriting Workstation

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Our mission is to provide cutting-edge personalized experiences to customers through innovative platforms by simplifying searching, sharing, and consumption of rich content via diverse devices and platforms.

Duck Creek Services

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Our Services
Duck Creek Services

Business Agility, Growth and Profitability with Mindtree and Duck Creek

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Customer Success

Transform digital experiences for viewers, gamers, and audiences

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Data and Intelligence

Unlock new possibilities with an optimal mix of human intelligence and AI

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Cloud Services

Unleash limitless possibilities by leveraging cloud

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Enterprise IT Transformation & Automation

Transform organizations with hyper-automation and a platform-driven approach

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Consulting Services

Accelerate transformation at the intersection of biz, tech, and experience

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Application Portfolio Transformation

Assess your applications portfolio to rationalize, modernize, and automate

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Data Analytics

Ecolab gains competitive edge with Salesforce IoT

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Application Development and Maintenance

Assess your applications portfolio to rationalize, modernize, and automate

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Case Studies
Automation-First-Approach-Delivers-20-Cost-Savings-case-study

Automation

Automation First Approach Delivers 20% Cost Savings

Mindtree's automation first approach delivers 20% cost savings and improves customer satisfaction for a leading auto insurance company in under 6 months.

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Digital-Experience-transformation

Digital transformation

Driving policyholder and producer digital adoption through experience transformation

Improved user experience across different users and Comprehensive web analytics framework for activity and usage tracking.

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Enterprise-IT-Services

Enterprise IT

Enterprise IT services, digital, data, & cloud transformation for a US insurance carrier

Mindtree drove growth through migration and modernization of legacy core applications to COTS applications.

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Data-Transformation-for-payments

Data transformation

Data transformation for improved payments processing for a large US supplemental insurance provider

Streamlined orchestration with 100% elimination of manual processing for profiled groups and reduced support Full-time Equivalent (FTEs) by 50%.

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Policyholder-Mobile-App-Modernization

Mobile app modernization

Policyholder mobile application modernization for a leading US supplemental insurer

The client achieved a 70% reduction in maintenance and support costs compared to the previous application.

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Native-Cloud-application

Cloud-native application

Cloud-native application to digitize underwriting for a leading North American life insurer

The solution helped client’s customers to submit personal information online and enabled accelerated underwriting through a cloud-based application that is convenient, private & secure.

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automation-business-reporting-health-checks-job-monitoring-multinational-case-study

Automation

Automation of business reporting, health checks and job monitoring for an insurance firm

Achieved 90% reduction in manual efforts, 160 man-months savings in pipeline, and 100% consistency and repeatability in the quality of processing the requests.

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improving-risk-exposure-accuracy-leading-property-and-casualty-insurer-40-case-study

Consulting & Development

Improving risk exposure accuracy for a leading property and casualty insurer by 40%

A first-of-its-kind solution that helps accurately assess property risk and price catastrophe bonds, not in months – but weeks.

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software-just-works-global-tax-and-accounting-provider-case-study

Testing

Software that just works, for a global tax and accounting provider

Enterprises are realizing the critical importance of effective test automation. Here's how we delivered a comprehensive meaningful test automation solution.

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Alliances
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Inspektlabs-logo
vitech-logo
UI Path
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Microsoft
Informatica
Duck Creek

Insurance Leadership

leader

Mukund Rao

Chief Business Officer, BFSI

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Awards and Recognition
L&A Insurance Application And Digital Services 2021 PEAK Matrix Award Logo Major Contender 0

Mindtree positioned as Major Contender in Everest Group Application and Digital Services in Life and Annuities Insurance PEAK Matrix Assessment

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Insights
Whitepaper

Aim for success with intelligent automation

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Report

A report on Trends shaping Group and Voluntary Benefits Insurance industry in 2022

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Blog

Gamification’s role in the insurance domain

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Blog

IFRS 17: The way forward for insurers and reinsurers

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Blog

Role of analytics in insurance claim fraud detection

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Blog

Artificial intelligence in the world of insurance

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Blog

Digitizing insurance distribution partner experience during the Covid-19 pandemic

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Blog

Business process testing - A game changer for the insurance industry

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Videos

Driving Agility With Cloud-Based, SaaS Core Systems For P and C Insurance

Aim for Success with Intelligent Automation

Leading insurance executives Tim Mann from NFU Mutual, Darren Sharp from Tokio Marine Kiln, and Mukund Rao from Mindtree share key perspectives on aligning people, processes, and cultures to deliver transformational change.

Tim Mann, CIO - NFU Mutual describes Mindtree as trustworthy, earnest and understated

Abe Badani, President and CEO Anchor General, discusses digital transformation via DuckCreek

Mindtree Fireside Chat : UPC Insurance Digital Transformation Journey

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